Lowe’s will close on Easter Sunday to give workers a break

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Lowe’s will close all of its stores in the United States and Canada on Easter Sunday so the company’s 300,000 workers can spend time with their families, the home improvement chain said on Tuesday.

CEO Marvin Ellison said the workers deserve Sunday leave because their work during the coronavirus pandemic was “nothing short of heroic.” Employees will receive their regular wages if they worked that Sunday, said Lowe officials.

“We want to give our teams a well-deserved day off to spend Easter Sunday with their families and loved ones and unwind,” said Ellison in a statement.

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Lowe’s has 2,200 stores in the United States and Canada.

Lowe’s has joined a list of stores, including Aldi, BJ’s, Costco, Publix, Sam’s Club, Target and Trader Joe’s, which will close on Easter Sunday.

Lowe’s offered other modest sweeteners to reward people who worked during the virus epidemic. These include bonuses of $ 300 for full-time employees and $ 150 for part-time workers, as well as a temporary increase of $ 2 per hour. The company, which had sales of $ 72 billion last year, has also set aside $ 3 million for an employee emergency fund.

The retail industry has been particularly hard hit by the coronavirus, with state and local governments ordering store closures and consumers staying at home. Household names like Apple, Ikea and Macy’s have temporarily closed but kept their online stores open. A little industry analysts plan to close 15,000 stores permanently this year, eclipsing the 2019 record of more than 9,500 closings.

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“We anticipate that some of the retailers who recently announced temporary store closings – including some well-known names – will never reopen,” wrote Deborah Weinswig and Vineeth Gangadharan of Coresight Research, who tracks industry trends from retail, in a report.

The store, clothing and home improvement stores like Lowe’s and Home Depot could see the biggest blow from the coronavirus, said Weinswig and Gangadharan.

The Home Depot, which has not announced its closure for Easter, is also temporarily raising workers’ wages. Employees who work more than 35 hours per week receive an additional $ 100 and employees who work between 16 and 35 hours receive an additional $ 50. Workers receive twice their hourly wages for overtime.

Lowe’s stock was trading at $ 92.47, up 4% from Tuesday’s market opening.



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